AXT: Q4 Earnings Snapshot
FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — AXT Inc. (AXTI) on Thursday reported a fourth-quarter loss of $3.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Fremont, California-based company said it had a loss of 9 cents. Losses, adjusted for stock option expense, came to 7 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The semiconductor materials supplier posted revenue of $20.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $17.6 million.
For the year, the company reported a loss of $17.9 million, or 42 cents per share, swinging to a loss in the period. Revenue was reported as $75.8 million.
In the final minutes of trading on Thursday, the company's shares hit $2.28. A year ago, they were trading at $4.62.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTI at https://www.zacks.com/ap/AXTI
